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Consumer confidence rises in January [January 29, 2014] NEW YORK (Reuters) — Consumer confidence rose in January as consumers grew more optimistic about both business conditions and the job market, according to a private sector report released on Tuesday. |
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The Conference Board, an industry group, said
its index of consumer attitudes rose to 80.7 from an downwardly
revised 77.5 in December. Economists polled by Reuters had
expected a reading of 78.1. The jump puts the index near levels last seen before an autumn
government shutdown that unnerved consumers. "All in all, confidence appears to be back on track and rising
expectations suggest the economy may pick up some momentum in
the months ahead," Lynn Franco, director of economic indicators
at The Conference Board, said in a statement. The expectations index rose to its highest since September,
climbing to 81.8 from a downwardly revised 79 last month. The
present situation index rose to 79.1 from a revised 75.3 in
November. The "jobs hard-to-get" index was 32.6 in January, compared with
a revised 32.9 in December. Consumers' one-year inflation
expectation was 5.1 percent, compared with 5.2 percent last
month. (Reporting by Ryan Vlastelica; editing by Meredith Mazzilli) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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